Methodology
Every verdict on Shariah.sg is produced by applying a published, versioned methodology to publicly-available financial statements. Our official standard is grounded in Fiqh al-Aqalliyyat and takes OJK Indonesia as a regional precedent, recognising that Muslim minority investors in Singapore face different constraints from those in Muslim-majority jurisdictions.
Official: Shariah.sg Singapore Standard v1.0
Effective from 2026-06-01
Key deviations from AAOIFI/FTSE: (1) Income threshold raised from 5% to 10% (adopts OJK). (2) REIT debt threshold raised from 33% to 50% (aligns with MAS cap; asset-backed nature reduces gharar).
Read the full standard →Comparison across standards
| Standard | Income limit | Debt (general) | Debt (REIT) | Cash enforced |
|---|---|---|---|---|
| Shariah.sg Singapore Standard v1.0official | 10% | 33% | 50% | No |
| AAOIFI Shariah Standard (2024) | 5% | 33% | 33% | Yes (33%) |
| FTSE Shariah Global Equity Index Series | 5% | 33% | 33% | Yes (33%) |
| Securities Commission Malaysia — Shariah Screening Methodology | 5% | 33% | 33% | Yes (33%) |
| OJK Indonesia — Daftar Efek Syariah | 10% | 45% | 45% | No |